One insider claimed that under the new agreement an episode of Deal or No Deal will cost about £50,000.

It is understood the cost savings will be achieved by shooting four episodes a day instead of the previous three, to make more efficient use of studio time.

"Endemol's margins have been cut, that's how the big savings have been made. There are also plans to make savings by recording more episodes per day," one source said. "Final details are still being worked out, but the substance of the deal has been agreed."

Endemol makes about 260 episodes a year of Deal or No Deal for Channel 4.

Edmonds does not have an exclusive deal with Channel 4 and presents shows for other broadcasters. It is not known how much he will be paid under his new deal.

He said the show's production team "are the best that I have ever worked with". "Their passion, professionalism and commitment allow us to complete such a punishing schedule," he added.

Deal or No Deal has been one of Channel 4's biggest hits of the past five years.

The show launched in 2005 and swiftly rose in popularity, attracting audiences of about 5 million at its peak. It is currently attracting about 2.2 million viewers.

Due to the advertising recession and the difficult financial climate in television, there has been pressure on all programme-makers to cut budgets and the amount paid to presenters.

Last year, the Channel 4 star Alan Carr revealed he had been asked to take a pay cut by the broadcaster. "Oh yeah, they've asked me to take a pay cut," said Carr. "And I definitely will. I'm all for it, we've all got to pull together, haven't we?"

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